IMF lifts China growth forecast again on reform progress

Beijing

THE International Monetary Fund (IMF) has raised its annual growth forecast for China again, stressing that the world's second-largest economy should move faster on structural reform.

In its conclusion to a mission in China during the first two weeks in June, the IMF forecast China will grow 6.7 per cent this year and 6.4 per cent from 2018 to 2020.

This is the second time this year the IMF has lifted its forecast for China.

Last March, the government set an annual target of around 6.5 per cent for the five years to 2020. Many economists said such a high target could put pressure on local governments to choose growth over reform. After growing 6.7 per cent in 2016, the economy has rebounded in the first-half of 2017 due mainly to …